Wang Yangming’s(1472-1529) philosophy of the mind has expanded Lu Jiuyuan’s (1139-1193) theory of “heart as Li (an expression of the universal principle and order)” into a strongform theory that holds “nothing exists outside the mind,” which takes the thorough monism of mind and matter as the cosmology and ontology foundation, and pushes the school of mind in the Song and Ming Dynasties to the peak of thorough empiricism. The thorough empirical epistemology adhered to by “nothing exists outside the mind” not only embodies the principles of thorough subjectivity and inter-subjectivity, but also adheres to the dynamic and revolutionary theory of reflection and the basic spirit of phenomenological method of “returning to the thing itself,” which, in its philosophical standpoint, is consistent with the basic orientation of practice theory held by Marx’s practical materialism. Examining and interpreting Yangming’s theory from the perspective of Whitehead’s process philosophy not only helps to clarify misinterpretations and false statements about the philosophical nature and basic characteristics of Yangming’s theory of mind in history, but also helps us to “make the past serve the present” when inheriting the fine traditional culture, and to realize the creative transformation of traditional culture. It could offer us both theoretical reference and practical impetus.